Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]


Discharge of corporation's liability

             (1)  From the time when the notice is given to the corporation, the corporation is discharged from liability to make further payments under the contract.

             (2)  However, if the corporation continues to make payments under the contract after that time, any amounts paid after the end of 4 weeks after the day on which the notice is given to the corporation:

                     (a)  are taken not to be payments of financial supplement made under the contract; and

                     (b)  are repayable from the person's estate to the corporation; and

                     (c)  may be recovered by the corporation as a debt payable to it from the person's estate.

AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback